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Today i'm gonna talk to you about network marketing
First off, network marketing is a business you can start for a relatively low cost.
Usually it only costs a couple hundred bucks in some cases less than a hundred bucks
It's a business you can do on your own time
It has low operating costs
It has no employees
And it's a business where you can put in a part time effort and receive maximum results
The business is self sustainable meaning once you put in enough groundwork it'll grow on
its own and pay you money whether you work or not and even while you sleep
What I like about network marketing is that it's a great way to gain entrepreneurial skills
if you don't have them
And it's about helping people, the more people you help the more money you will make
There is a lot of controversy surrounding network marketing because people like to say
it's a pyramid scheme or that it's a scam
But before I get into why people think this I'm going to give you a background on network
marketing
To become a network marketer you have to pay to join a network marketing company
Network marketing companies are just like typical companies except instead of umm marketing
through advertisements they market through people
So when you join a network marketing company you become what is known as an IBO or an independent
business owner
To join a network marketing company you have to join through an existing IBO which would
be known as your upline and you as their downline
In network marketing IBOS make money off of the money their downline make this is why
people call it a pyramid scheme but network marketing is not a pyramid scheme there are
pyramid schemes masquerading as network marketing companies but they are fairly easy to spot
A pyramid scheme is a non-sustainable business and in most cases it has no product or service
and it is just heavily geared towards signing people up and charging a sign up fee
This means the only way you really make money is by signing people up and this only works
for so long because once you get to a certain point the scheme collapses
The only people who really make money off of a pyramid scheme are the people who set
it up
I believe if you are looking for a change in your life and you want to be your own boss
and you are tired of working for someone else then you should become a network marketer
Network marketing isn't just a business or a source of income it is a living breathing
lifestyle
It is an opportunity to learn how to grow bigger than your problems and become the best
version of yourself
Another thing I might add is that network marketing generates a passive income
Passive income is income you can legally pay 0% taxes on with passive income you earn first
spend second and pay taxes last
Passive income is income that comes in whether you work or not it is the type of income that
makes you rich
Now there are three kinds of income
and they are earned income, portfolio income, and passive income.
Earned income are wages from a job, this income is typically taxed at 40% and if you earn
more than 250,000 a year it is taxed at 60% and in some cases higher
With earned income you pay the government first and that is absolutely trash I hate
it and its harder to get ahead financially because they government takes your money before
you even get it
The next is portfolio income which is also known as capital gains which is buying for
a low and selling for a high
Such as stocks or whatever
This is typically taxed at 20%
In network marketing only 1% of people who attempt it become successful at it because
I believe only 1% of people have the right mind state and core values to succeed in network
marketing
One of the things I have observed for myself is that people who are rich look for or build
networks, people who are not just look for jobs
Network marketing teaches you how to build a network that pays you hence the name network
marketing
I believe it is a business for people who want to grow rich
Despite only about 1% of people succeeding in network marketing I believe anyone can
succeed in it if they really want to and if they are willing to apply themselves and learn
and put the time, effort, and persistence
Most people just want instant gratification and that is not what network marketing is
about
One of the things it takes to succeed in this and do well in this is delayed gratification
You gotta be able to stick it out even though it may be hard at times and you gotta be willing
to sacrifice certain things in order to get where you want to be
Not many people can do this and this is why not a lot of people can succeed in network
marketing I believe
The reason why I became a network marketer because at heart I am an entrepreneur and
its a low cost business and the money potential is so high and it gives you great entrepreneurial
skills
How people don't see money in this is beyond me
If you stick with this this business has the potential to pay you for a lifetime and I
really like that thought
But yeah thats all I have to say for now, I hope you enjoyed this video
If you are interested in learning about a network marketing opportunity with Amway just
click on the link in the description
And please follow me on twitter
Thank you